On September 11, the Economic Police Department of Cao Bang Provincial Police announced that they had initiated prosecution and arrested Chu Lai (DOB: 1994), a resident of Dong Khe Town, Thach An District, Cao Bang Province, and a former credit officer at a bank branch in Tra Linh Town, Trùng Khánh District, Cao Bang. He is being investigated for “Abuse of Position and Power while performing official duties.”
Chu Lai at the police station.
According to initial investigations, from 2020 to 2024, Mr. Chu Lai, as a bank officer in charge of managing customer loans, took advantage of this position. When customer loans became due, he borrowed money from individuals to roll over the debts for these customers but then embezzled the funds for his personal use, and is now unable to repay the debts. The investigating agency has determined that he has caused losses to several individuals who are customers of the bank, totaling over VND 3.8 billion.
The Economic Police Department of Cao Bang Provincial Police is continuing to investigate and expand the case.
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